The Pacific Alliance, made up of Mexico, Colombia, Chile and Peru, supports projects to face the Covid-19 pandemic.
On May 15, the Council of Ministers adopted Decision 6 on the Organization and Functions of the National Coordinators of that bloc, as well as Decisions 7 and 8, relative to the Approval of the Operating Regulations of the Agreement for the establishment of the Cooperation Fund for the Pacific Alliance and the 2020 Work Plan of the Alliance Cooperation Fund, respectively.
This Work Plan was modified to open the call for the presentation of projects that support member countries to mitigate the effects of the COVID 19 pandemic. The best initiatives will be selected from the 15 presented.
The block is an initiative that aims to create an area of deep integration for the free movement of goods, services, capital and people between Mexico, Colombia, Chile and Peru, who already have bilateral FTAs among themselves.
The current members of the Pacific Alliance have actively participated in bilateral and multilateral trade liberalization and have aligned themselves with countries that also seek to achieve, at the bilateral and regional level, what has not been possible to achieve through the World Trade Organization. Trade (WTO).
They have signed free trade agreements with the United States, Canada and the European Union. All of them have trade links with Asian countries through regional trade agreements or by other means. China, Japan, South Korea, Singapore and India have signed agreements with at least two members of the Pacific Alliance.